♪ welcome to cnbc's coverage of the final night of the republican national convention live from tampa. and this is the big night for mitt romney. hello, i'm john harwood. in about 25 minutes, the former massachusetts governor will reach the goal he's pursued for the last six years. he'll introduce himself to the nation and the world as the republican nominee for president of the united states. it's his biggest chance yet to frame his battle against

president obama and paint a portrait of the agenda and values he'd bring to the white house. expect him to talk about his experience in business and his faith. subjects some americans have had questions about. before he takes the stage, we'll hear from senator marco rube io and clint eastwood. first we'll hear from our own conservative icon, larry kudlow, host of "the kudlow report." this is a time lapse shot over the last 24 hours. you can see the stage is set. people have been streaming in all day in anticipation of mitt romney's speech. now, larry, you're a longtime champion of supply-side economics. you've been critical of this convention so far for not saying enough about tax cuts and economic growth. >> absolutely. >> what do you want to hear from mitt romney on those subjects tonight, and why does that message matter? >> i want to hear some clarity on it. he has already put out a tax program. i'm fine with it. i want him to talk about it, put the numbers out there, tell people this is his agenda. you know, to me, the economy's not in good shape.

it hasn't been in good shape for many years. people want to know what the republican plan is going to be. what is his program? >> aren't the supply siders already with mitt romney? >> i don't know. it depends. there's such a thing as tough love. and a lot of this from myself here at cnbc over at "national review" or "the wall street journal" editorial pages, we believe that in order to govern well, you must have an agenda when you run. otherwise you're not going to get anything done. it isn't just tax cuts. it's going to be large-scale spending cuts. it's going to be a rollback of regulations in certain areas. it's going to be entitlement reform probably down the road. the trick is, add incentives, let the economy breathe. that is my point of view. and i think mitt romney has a great opportunity tonight to do that, but i want to hear him do it. >> and now here he comes, larry, the man who played dirty harry and directed "million dollar baby," clint eastwood.

>> thank you very much. thank you. thank you very much. thank you. save a little for mitt. i know what you're thinking. you're thinking, what's a movie tradesman doing out here? you know, they're all left wingers out there. at least that's what people think, but that's not really the case. there's a lot of conservative people. a lot of moderate people. republicans, democrats in

hollywood. it's just that conservative people by the nature of the word itself play a little more close to the vest, and they don't go around hot dogging it. but they're there. believe me, they're there. i just -- i think, in fact, there's some of them around town. i saw jon voight. there are a lot of people around town. jon's here, academy award winner. terrific guy. and these people are all like-minded like all of us. so i've got -- i've got mr. obama sitting here. i just was going to ask him a couple questions. you know, about -- i remember 3 1/2 years ago when mr. obama won the election. and though i wasn't a big supporter, i was watching that

night when he was having that thing, and they were talking about hope and change. and they were talking about yes, we can. and it was dark and outdoors, and it was nice, and people were lighting candles. they were saying, you know, i just thought, this is great. i mean, everybody's crying. oprah was crying. i was even crying. and then finally, i haven't cried that hard since i found out that there's 23 million unemployed people in this country. now, that is something to cry for because that is a disgrace, a national disgrace, and we haven't done enough, obviously. this administration hasn't done enough to cure that. whatever interests they have is

not strong enough. and i think possibly now it may be time for somebody else to come along and solve the problem. so mr. president, how do you -- how do you handle -- how do you handle promises that you've made when you were running for election, and how do you handle -- how do you handle it? i mean, what do you say to people? do you just -- you know, i know people -- people are wondering -- you don't -- you don't -- okay. i know even some people in your own party were very disappointed when you didn't close gitmo. and i thought, well, i think closing gitmo, why close that? we've spent so much money on it.

i thought maybe it's an excuse. oh. what do you mean, shut up? okay. i thought it was just because somebody had the stupid idea of trying terrorists in downtown new york city. i've got to hand it to you. i've got to give credit where credit's due. you did overrule that finally. so now we're moving onward. and i know -- i know you were against the war in iraq. and that's okay. but you thought the war in afghanistan was okay. you thought that was something that was worth doing. we didn't check with the russians to see how they did there for the ten years. but we did it.

it was -- you know, it's something to be thought about. and i think that when we get to maybe -- i think you mentioned something about having a target date for bringing everybody home. and you give that target date, and i think mr. romney asked the only sensible question on it. he said, why are you giving the date out now? why don't you just bring them home tomorrow morning? i thought -- i thought, yeah. there's -- i'm not going to shut up. it's my turn. so anyway. we got -- we're going to have -- we're going to have to have a little chat about that. and then i just wondered, all of these promises. and then i wondered about, you know, when the -- what?

what do you want me to tell romney? i can't tell him -- do that. he can't do that to himself. you're absolutely crazy. you're getting as bad as biden. of course, we all know biden -- biden is the intellect of the democratic party. just kind of -- kind of a grin with a body behind it, you know. this kind of thing. i just think that there's so much to be done. and i think that mr. -- mr. romney and mr. ryan are two guys that can come along.

see, i never thought it was a good idea for attorneys to be president anyway because -- yeah. i think attorneys are so busy -- you know, they're always taught to argue everything and always weigh everything and weigh both sides. and they're always, you know -- they're always devil's advocating this and bifurcating this and bifurcating that and all that stuff. i think it's maybe time -- what do you think -- for maybe a businessman. how about that? a stellar businessman. quote, unquote, a stellar businessman. and i think it's that time. and i think if you just kind of stepped aside and mr. romney can kind of take over, you could still use the plane.

though maybe a smaller one. not that big gas guzzler that you're driving around when you're going around to colleges and talking about student loans and stuff like that. you're an ecological man. why would you want to drive that truck around? okay. well, anyway. all right. i'm sorry. i can't do that to myself either. anyway. but i'd just like to say something, ladies and gentlemen. something that i think is very important, is that you, we -- we own this country. thank you. thank you. yes, we -- we own it. and it's not you owning it and

not politicians owning it. politicians are employees of ours. they're just going to come around and beg for votes every few years. it's the same old deal. but i just think that it's important that you realize that you're the best in the world. whether democrat or whether you're a republican or whether you're libertarian or whatever, you're the best, and we should not ever forget that. and when somebody does not do the job, we've got to let them go. we've got to let them go.

okay. yes. okay. just remember that. and i'm speaking out for everybody out there. it doesn't hurt -- we don't have to be -- i don't say that word anymore. well, maybe one last time. we don't have to be -- what i'm saying is we don't have to be mettle masochists and vote for somebody we don't really want in office. just because they seem to be nice guys, or maybe not so nice guys if you look at some of the recent ads going out there, i don't know. okay. you want to make my day, huh? all right.

all right. i'll start it. you finish it. go ahead -- >> make my day! >> all right. thank you. thank you very much. >> now, next up, we've got senator marco rubio of florida, one of the party's rising stars, conservative star, improving its voting with hispanic voters. larry, i've got to say before we go, that was one of the strangest pieces of stagecraft i've ever seen at a convention. >> well, he's an icon, so he's for romney. there you have it. that's about all i can say. >> here you've got marco rubio, cuban-american, senator from florida. potentially a future president of the united states. >> i think i just drank clint

eastwood's water. thank you. well, thank you so much. thank you so much for having me here today. and thank you so much for doing this convention here in florida. you know, before i begin -- thank you -- before i begin, this is such an important night for our country. i want to take just -- with your permission -- just a few seconds to talk about another country, a country located just a few hundred miles away from this city, the country of my parents' birth. there's no freedom or liberty in cuba. and tonight, i ask for your prayers that soon freedom and liberty will be theirs as well. it -- you know, this is a big honor for me. just not so long ago, i was just a deep underdog candidate. the only people that thought i could win all lived in my house. four of them were under the age of 10.

but this is incredible when i was asked to introduce governor romney who we'll hear from in just a moment. i promise you he's backstage ready to go. so i called a few people, and i asked them, what should i say? and they had a lot of different opinions. but the one thing they all said is, don't mess it up. so i thought the best way to introduce mitt romney tonight, the next president of the united states, is to talk -- is to talk about what this election is about. and i'm so honored to be able to do it here in florida at the republican national convention in front of all you patriots. i watched my first convention in 1980 with my grandfather. my grandfather was born to a farming family in rural cuba. childhood polio left him permanently disabled. because he couldn't work the farm, his family sent him to school. he was the only one in his family that knew how to read. he was a huge influence on me growing up.

as a boy, i used to sit on the porch of our house and listen to his stories about history and politics and baseball. as he would puff on one of his three daily pedron cigars. now, i don't remember, it's been three decades since we last sat on that porch. and i don't remember all the things he talked to me about. but the one thing i remember is the one thing he wanted me never to forget, that the dreams he had when he was young became impossible to achieve, but there was no limit how far i could go because i was an american. now, for those of us, here's why i say that. here's why i say that. because for those of us who were born and raised in this country, sometimes it becomes easy to forget how special america is. but my grandfather understood how different america was from

the rest of the world because he knew life outside america. tonight, you will hear from another man who understands what makes america exceptional. mitt romney knows america's prosperity didn't happen because our government simply spent more money. it happened because our people use their own money to open a business. and when they succeed, they hire more people who invest or spend their money in the economy, helping others start a business or create jobs. now, tonight we've heard for a long time now about mitt romney's success in business. it's well known. but we've also learned that he's so much more than that. mitt romney's a devoted husband, a father, a grandfather, a generous member of his community and church, a role model for younger americans like myself. everywhere he's been, he's

volunteered his team and talent to make things better for those around him. and we are blessed that a man like this will soon be the president of these united states. now, let me be clear. so no one misunderstands. our problem with president obama isn't that he's a bad person, okay? by all accounts, he, too, is a good husband and a good father, and thanks to lots of practice, a good golfer. our problem is not that he's a bad person. our problem is that he's a bad president. you think he's watching tonight?

because his new slogan for his campaign is the word "forward." forward? a government that spends $1 trillion more than it takes in? an $800 billion stimulus that created more debt than jobs? a government intervention into health care paid for with higher taxes and cuts to medicare, scores of new rules and regulations. these ideas don't move us forward. these ideas move us backwards. these are tired and old big-government ideas that have failed every time and everywhere they've been tried. these are ideas that people come to america to get away from. these -- these are ideas that

threaten to make america more like the rest of the world. instead of helping the rest of the world become more like america. as for his old slogan under barack obama, the only change is that hope is hard to find. now, sadly, millions of americans are insecure about their future. but instead of inspiring us, by reminding us of what makes us special, he divides us against each other. he tells persons that they're worse off because others are better off. that rich people got rich by making other people poor. hope and change has become divide and conquer. but in the end, this election, it doesn't matter how you feel about president obama because this election is about your future, not about his.

and this election is not simply a choice between a democrat and a republican. it's a choice about what kind of country we want america to be. and as you prepare to make this choice, we should remember what made us special. you see, for most of human history, almost everybody was poor. power and wealth only belong to a few. your rights or whatever your rulers allowed you to have. your future was determined by your past. if your parents were poor, so would you be. if you were born without opportunities, so were your children. but america was founded on the principle that every person has god-given rights. founded on the belief that power belongs to the people.

that government exists to protect our rights and serve our interests and that no one should be trapped in the circumstances of their birth. we should be free to go as far as our talents and our work can take us. and we're special -- we're special because we're united -- we're united not as a common race or a common ethnicity. we're bound together by common values, that family is the most institution in society. and that almighty god is the source of all we have.

we're special -- we're special because we've never made the mistake of believing that we are so smart that we can rely solely on our leaders or on our government. our national motto, "in god we trust," reminding us that faith in our creator is the most important american value of them all. and we're special. we're special because we've always understood the scriptural admonition. that for everyone to whom much is given, from him much will be required. we well, my fellow americans, we are a uniquely blessed people. and we have honored those blessings with the enduring example of an exceptional america.

i know for many of you watching at home tonight, the last few years have tested your faith in the promise of america. maybe you're at an age when you thought you would be entering retirement. but now because your savings and investments have been wiped out, your future is uncertain. maybe after years of hard work, this was the time you expected to be your prime earning years. but instead you've been laid off, and your house is worth less than your mortgage. maybe you did everything you were told you needed to do to get ahead. you studied hard and finished school, but now you owe thousands of dollars in student loans. you can't find a job in your field. and you've had to move back in with your parents. you want to believe that we're still that special place where anything is possible. but you just don't -- things just don't seem to be getting any better. and you wonder if things will ever be the same again. yes, we live in a troubled time, but the story of those who came

before us reminds us that america has always been about new beginnings, and mitt romney is running for president because he knows that if we are willing to do for our children what our parents did for us, life in america can be better than it has ever been. my mother was one of seven girls whose parents often went to bed hungry so their children wouldn't. my father lost his mother when he was 9. he had to leave school and go to work, and he would work for the next 70 years of his life. they immigrated to america. my dad was a bartender. my mom was a cashier, a hotel maid, a stock clerk at kmart. they never made it big. they were never rich.

and yet they were successful. because just a few decades removed from hopelessness, they made possible for us all the things that had been impossible for them. many nights growing up, i would hear my father's keys jingling at the door as he came home after another 16-hour day. many mornings i woke up just as my mother got home from the overnight shift at kmart. when you're young and you're in a hurry, the meaning of moments like this escape you. but now as my children get older, i understand it better. my dad used to tell us -- [ speaking foreign language ] in this country, in this country, you're going to be able to accomplish all the things we never could. a few years ago during a speech, i noticed the bartender behind the portable bar in the back of the ballroom. i remembered my father who

worked for many years as a banquet bartender. he was grateful for the work he had. but that's not the life he wanted for us. you see, he stood behind a bar in the back of the room all those years so one day i could stand behind a podium in the front of a room. that journey -- that journey from behind that bar to behind this podium goes to the essence of the american miracle. that we're exceptional not because we have more rich people here. we're special because dreams that are impossible anywhere else, they come true here.

but that's not just my story. that's your story. that's our story. that's the story of your mother's. who struggled to give you what they never had. that's the story of your fathers who worked two jobs so that the doors that had been closed for them would be open for you. that's the story of that teacher or that coach that taught you the lessons that made you who you are today. and it's the story of a man who was born into an uncertain future in a foreign country. his family came to america to escape revolution. they struggled through poverty and the great depression. and yet he rose to be an admired businessman and public servant. and in november, his son, mitt romney, will be elected president of these united states.

in america -- in america, we are all just a generation or two removed from someone who made our future the purpose of their lives. america is the story of everyday people who did extraordinary things. a story woven deep into the fabric of our society. their stories may never be famous, but in the lives they live, you will find the essence of america's greatness. and to make sure that america is still a place where tomorrow is always better than yesterday, that is what our politics should

be about. and that is what we are deciding this election. we decide do we want our children to inherit our hopes and dreams, or do we want them to inherit our problems? because mitt romney believes that if we succeed in changing the direction of our country, our children and grandchildren will be the most prosperous generation ever, and their achievements will astonish the world. the story of our time will be written by americans who haven't yet even been born. let us make sure they write that we did our part. that in the early years of this new century, we lived in an uncertain time. but we did not allow fear to

cause us to abandon what made us special. we chose more government instead of more freedom. we chose the principles of our founding to solve the challenges of our time. we chose a special man to lead us in a special time. we chose mitt romney to lead our nation, and because we did, the american miracle lived on for another generation to inherit. my fellow republicans, my fellow americans, i am proud to introduce to you the next president of the united states of america, mitt romney!

♪ >> larry, you can see mitt romney moving through this crowd at the republican convention at ground level, reminiscent of stagecraft that bill clinton has used before. what did you think of marco's speech, he said a lyrical speaker. he commands the stage like paul ryan did but with more of a preacherly delivery. >> first of all, i think marco rubio is an absolute superstar, absolute. i interviewed him yesterday. we had a great talk about the economy and immigration and whatnot. that was a great speech about freedom. economic freedom, political freedom, religious freedom and faith. and you're right, it had a moral tone to it. it had a religious tone to it. but it had an uplifting tone to it. his story.

>> i also thought, larry, he made a critical point for a country that votes 53% for barack obama four years ago, he took care to say, not a bad person, just a bad president. >> that's correct. >> that's a formulation designed to open doors for people who voted for obama. >> i think that's exactly right. we may hear the same thing from romney. and a lot of people have said that at this convention. but i just want to say, marco rubio is a total political superstar. >> we could see a ryan/rubio presidential race. >> i don't know, but that introduction to mitt romney was fantastic. that's as good as anything i have ever seen. and i've seen a few of them. >> i think romney is a little fortunate that his introduction was rubio and not clint eastwood. >> that's all right. poor clint eastwood. he meant well. he's hollywood. marco rubio, however, is the future of the united states. >> you can see romney heading towards this revamped podium which has been lowered to put him closer to the crowd than the

podium earlier in the week. it's also going to accommodate that very large family that will be up on the stage with him after he delivers that speech. >> by the way, i've never seen mitt romney wear a red tie before. ever. first one i've seen. >> he does baby blue a lot. >> baby blue, all kinds of blue shades. you can see he's a happy man. he's got a good smile on his face. he's enjoying the moment. he's really enjoying the moment which suggests to me he's very confident about his speech. >> and i think he can be pleased that the three most important speeches, ann romney, paul ryan and marco rubio were all successful. here he is on the big stage in front of the plasma screens.

>> thank you. mr. chairman -- mr. chairman and delegates -- mr. chairman and delegates, i accept your nomination for president of the united states.

i do so with humility, deeply moved by the trust you've placed in me. it's a great honor. it's an even greater responsibility. and tonight i'm asking you to join me to walk together to a better future. by my side i've chosen a man with a big heart from a small town. he represents the best of america, a man who will always make us very proud, my friend and america's next vice president, paul ryan. in the days ahead, you're going

to get to know paul and janna better. but last night america got to see what i saw in paul, a strong and caring leader who's down to earth and confident in the challenge this moment demands. i love the way he lights up around his kids and how he's not embarrassed to show the world how much he loves his mom. but paul, i still like the playlist on my ipod better than yours. four years ago i know that many americans felt a fresh excitement about the possibilities of the new president. that choice was not the choice of our party, but americans always come together after elections. we're a good and generous people, and we're united by so much more than what divides us. when that election was over, when the orange signs came down and the television commercials finally came off the air,

americans were eager to go back to work, to live our lives the way americans always have, optimistic and positive and confident in the future. that very optimism is uniquely american. it's what brought us to america. we're a nation of immigrants with children and grandchildren and great-grandchildren of the ones who wanted a better life, the driven ones. the ones who woke up at night hearing that voice telling them that life in the place called america could be better. they came not just in pursuit of the riches of this world but for the richness of this life. freedom. freedom of religion. freedom to speak their mind. freedom to build a life. and yes, freedom to build a business with their own hands.

this is the essence of the american experience. we americans have always felt a special kinship with the future, when every new wave of immigrants looked up and saw the statue of liberty or knelt down and kissed the shores, these new americans surely had many questions, but none doubted that here in america they could build a better life, that in america their children would be blessed more than they. but today, four years from the excitement of that last election, for the first time, the majority of americans now doubt that our children will have a better future. it's not what we were promised. every family in america wanted this to be a time when they could get a little ahead, put aside a little more for college, do more for the elderly mom that's now living alone, or give a little more to their church or their charity. every small business wanted

these to be their best years ever when they could hire more, do more for those who had stuck with them through the hard times. open a new store, sponsor that little league team. every new college graduate thought they'd have a good job by now. a place of their own. they could start paying back some of their loans and build for the future. this is when our nation was supposed to start paying down the national debt and rolling back those massive deficits. this was the hope and change america voted for. it's not just what we wanted. it's not just what we expected. it's what americans deserved.

[ crowd chanting "usa" ] >> you deserved it because during these years, you worked harder than ever before. you deserved it because when it cost more to fill up your car, you cut out moving lights and put in longer hours. or when you lost that job that paid $22.50 an hour with benefits, you took two jobs at 9 bucks an hour. you deserve it because your family fedepended on you, and y did it because you're an american and you don't quit. you did it because it was what

you had to do. but driving home late from that second job or standing there watching the gas pump hit $50 and still going, when the realtor told you that to sell your house, you'd have to take a big loss. in those moments you knew that this just wasn't right. but what could you do? except work harder. do with less. try to stay optimistic. hug your kids a little longer. maybe spend a little more time praying that tomorrow would be a better day. i wish president obama had succeeded because i want america to succeed. but his promises gave way to disappointments and division. this isn't something we have to accept. now is the moment when we can do something, and with your help, we will do something.

now is the moment when we can stand up and say, i'm an american. i make my destiny. we deserve better. my children deserve better. my family deserves better. my country deserves better! so here we stand. americans have a choice, a decision. to make that choice, you need to know more about me and where i'd lead our country. i was born in the middle of the century in the middle of the country. a classic baby boomer. it was a time when americans were returning from war and eager to work. to be an american was to assume that all things were possible. when president kennedy

challenged americans to go to the moon, the question wasn't whether we'd get there, it was only when we'd get there. the souls ouls ooles of neil ar boots on the moon made permanent impressions on our souls. and i watched those steps together on her parents' sofa. i went to bed that night knowing we lived in the history of the greatest country of the world. god bless neil armstrong. tonight that american flag is still there on the moon, and i don't doubt for a second that

neil armstrong's spirit is still with us, that unique blend of optimism, humility and the utter confidence that when the world needs someone to do the really big stuff, you need an american. my dad had been born in mexico, and his family had to leave during the mexican revolution. i grew up with stories of his family being fed by the u.s. government as war refugees. my dad never made it through college, and he apprenticed as a lath and plaster carpenter. he had big dreams. he could miss my mom, a beautiful young actress, to give up hollywood to marry him. they moved to detroit. he led a great -- he led a great automobile company and became

governor of the great state of michigan. we were -- we were mormons, and growing up in michigan, that might have seemed unusual or out of place, but i really don't remember it that way. my friends cared more about what sports teams we followed than what church we went to. my mom and dad gave their kids the greatest gift of all, the gift of unconditional love. they cared deeply about who we would be and much less about what we would do. unconditional love is a gift that ann and i have tried to pass on to our sons and now to our grandchildren. all the laws and legislation in the world will never heal this world like the loving hearts and arms of mothers and fathers. you know, if every child could

drift to sleep feeling wrapped in the love of their family and god's love, this world would be a far more gentle and better place. my mom and dad were married for 64 years. and if you wondered what their secret was, you could have asked the local florist. because every day dad gave mom a rose which he put on her bedside table. that's how she found out what happened on the day my father died. she went looking for him because that morning, there was no rose. my mom and dad were true partners. a life lesson that shaped me by everyday example. when my mom ran for the senate, my dad was there for her every step of the way. i can still see her saying in her beautiful voice, why should women have any less say than men

about the great decisions facing our nation? don't you wish she could have been here at this convention? and heard leaders like governor mary fallon, governor nikki haley, governor suzanne that martinez, kelly ayotte and secretary of state condoleezza rice? as governor of massachusetts, i chose a woman lieutenant governor, a woman chief of staff. half of my cabinet and senior

officials were women. and in business, i mentored and supported great women leaders who went on to run great companies. i grew up in detroit in love with cars and wanted to be a car guy had just moved into

town or just joined our church. we had remarkably vibrant and diverse congregations of all walks of life, and many who were new to america. we prayed together. our kids played together. and we always stood ready to help each other out in different ways. that's how it is in america. we look to our communities, our faiths, our families for our joy, our support, and why we live our lives. the strength and power and goodness of america has always

been based on the strength and power and goodness of our communities, our families and our faiths. that's the bedrock of what makes america america. in our best days, we can feel the vibrancy of america's communities large and small. when we see that new business opening up downtown. it's when we go to work in the morning and see everybody else on the block doing the same thing. it's when our son or daughter calls from college to talk about which job offer they should take. and you try not to choke up when you hear that the one they like best is not too far from home. it's that good feeling when you have more time to volunteer to coach your kid's soccer team or help out on school trips. but for too many americans, those kind of good days are harder to come by. how many days have you woken up feeling that something really special was happening in america? many of you felt that way on

election day four years ago. hope and change had a powerful appeal. but tonight i'd ask a simple question. if you felt that excitement when you voted for barack obama, shouldn't you feel that way now that he's president obama? you know there's something wrong with the kind of job he's done as president when the best feeling you had was the day you voted for him. the president hasn't disappointed you because he wanted to. the president has disappointed america because he hasn't led america in the right direction. he took office without the basic qualification that most americans have and one that was essential to the task at hand.

he had almost no experience working in a business. jobs to him are about government. i learned the real lessons about how america works from experience. when i was 37, i helped start a small company. my partners and i had been working for a company that was in the business of helping other businesses. so some of us had this idea that if we really believed our advice was helping companies, we should invest in companies. we should bet on ourselves and our advice. so we started a new business called bain capital. the only problem was while we believed in ourselves, not many other people did. we were young and had never done this before, and we almost didn't get off the ground. in those days sometimes i wondered if i had made a really big mistake. by the way, i thought about

asking my church's pension fund to invest, but i didn't. i figured it was bad enough that i might lose my investors' money, but i didn't want to go to hell, too. shows what i know. another of my partners got the episcopal church pension fund to invest. and today there are a lot of happy retired priests who should thank him. that business we started with ten people has now grown into a great american success story. some of the companies we helped start are names you know and you've heard from tonight. an office company called staples where i'm pleased to see the obama campaign's been shopping. the sports authority which, of

course, became a favorite of my boys. we helped start an early childhood learning company called bright horizons that first lady michelle obama rightly praised. at a time when nobody thought we'd ever see a new steel mill built in america, we took a chance and built one in a cornfield in indiana. today steel dynamics is one of the largest steel producers in the united states. these are american success stories. and yet the centerpiece of the president's entire re-election campaign is attacking success. is it any wonder that someone who attacks success has led the worst economic recovery since the great depression? in america, we celebrate success. we don't apologize for success.

now -- now, we weren't always successful at bain. but no one ever is in the real world of business. that's what this president doesn't seem to understand. business and growing jobs is about taking risk, sometimes failing, sometimes succeeding, but always striving. it's about dreams. usually it doesn't work out exactly as you might have imagined. steve jobs was fired at apple. and then he came back and changed the world. it's the genius of the american free enterprise system to harness the extraordinary creativity and talent and industry of the american people

with a system that's dedicated to creating tomorrow's prosperity, not trying to redistribute today's! that's why -- that's why every president since the great depression who came before the american people asking for a second term could look back at the last four years and say with satisfaction, you're better off than you were four years ago except jimmy carter. and except this president. this president can ask us to be patient. this president